Super Micro Computer (SMCI.US) delays filing its 10-Q quarterly report, citing the need for more time to find a new auditor
1min read Microchip Technology (SMCI.US) said it will be unable to file its quarterly 10-Q report for the period ended September 30, 2024, due to its continued delay in submitting its annual report.The company said that the special committee of the board completed its investigation based on a series of preliminary concerns raised by its former auditor, Ernst & Young. The committee has other work ongoing, but expects the review to be completed soon.The troubled artificial intelligence server manufacturer also said it needs additional time to select and hire a new auditor and prepare its 10-Q report for the first quarter of 2025. The first quarter 10-Q report cannot be completed and filed until the 2024 10-K report is completed and filed.As previously stated, the company is unable to file its 10-K annual report for the period ended June 30, 2024.When Microchip Technology discussed its delayed 10-K report in its first-quarter preliminary results last week, it said it had not found evidence of fraud or wrongdoing, but it was difficult to say when the report would be filed.As of Wednesday's premarket, Microchip Technology's stock price was down about 3% at the time of writing.